Lawmakers who benefited from FTX cash probe its collapse

The Senate Agriculture Committee will hold a hearing on crypto regulation Thursday in the wake of FTX’s implosion.

‘The more you submit, the more we get paid’: How fintech fueled covid aid fraud

The probe by a congressional watchdog tasked to oversee roughly $5 trillion in federal covid aid contends there was rampant abuse among fintechs.

Where did the covid aid money go?

Historic funding vaccinated millions and spared the economy, but also invited unprecedented levels of fraud, abuse and opportunism. Here are our key findings.
  • 20 hours ago

Sam Bankman-Fried, former CEO of FTX, says ‘we messed up big’

Bankman-Fried said he had little idea what was going on at a company he founded.

House votes to pass bill forcing rail labor deal to avoid strike

The House-passed legislation forcing a deal to avoid rail strike has an uncertain path in the Senate, although leaders have vowed to act quickly.

Alzheimer’s drug shows promise but needs more study for safety, researchers say

The makers of an experimental Alzheimer's drug showcased its potential as they seek regulatory approval.

Fed chair signals smaller rate hikes as bank keeps up inflation fight

Financial markets have been anxiously awaiting any clear signs about the central bank’s plans.

U.S. gas prices plunge toward $3 a gallon as demand drops worldwide

The price of gas is back to where it was before Russia invaded Ukraine and is heading toward $3 a gallon. It is putting real money back in Americans' wallets.
  • Advice

Here’s what to do if a payment app reports your cash gifts to the IRS

Year-end tax tip: Keep good records if you're using payment platforms. Some payments may be incorrectly reported to the IRS as taxable income.

Millennials shut out of the housing market, again

Millennials bought homes at record rates during the pandemic. But rising prices, decreasing inventory and high mortgage rates shut out younger buyers in 2022.

Congressional leaders vow to avert rail strike

The push to pass legislation began after President Biden issued a statement on Monday calling on Congress to immediately pass legislation to impose a union contract his board recommended but several unions voted down.

Holiday shopping sets records on paper, but inflation takes its toll

Cyber Monday sales hit a record $11.3 billion, a 5.3 percent jump from last year, according to Adobe Analytics.

Macron to promote nuclear energy in U.S., as industry faces crisis in France

As Europe turned away from Russian energy, the French nuclear industry missed its chance to demonstrate the promise President Emmanuel Macron has talked about.

Almost everyone expects a recession. Could the economy avoid one?

As the Fed wrestles with inflation, experts wonder if people think the economy is worse than it really is

Crypto bank BlockFi, its fate entwined with FTX, files for bankruptcy

The once-hot cryptocurrency lender has at least 100,000 creditors, according to its Chapter 11 filing.
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